India-based pharmaceutical company Lupin intends to expand in Europe through investing between $50m and $1bn in acquiring generic drug producers, CEO Vinita Gupta told Indian daily Business Standard yesterday.
Target companies will be those with expertise in complex generics such as inhalation and injectable products, dermatology drugs and biosimilars, as well as larger businesses that can provide it with access to generic markets in Russia, China and Brazil.
“In the US, we have a very strong footprint,” Gupta said, speaking from Lupin’s US office. “In Europe, we are really small. So we have a focus in looking at building a specialty presence as well as a generics presence.”
Lupin sourced around 3% of its income from Europe in 2013, compared to competitor Ranbaxy, which received about 24% of its revenue from the continent.
The company has acquired nine companies since 2007, and has already agreed to acquire Netherlands-based injectable drug maker Nanomi and Mexico-based eye treatment developer Laboratorios Grin in 2014.